GM Invests $150 millio in electric boating start-up Pure Watercraft

General Motors has agreed to invest $150 million in Pure Watercraft, an electric boating startup that builds electric outboard motors. In exchange GM will be getting 25% stake in the company.

The deal seems to be similar to the one GM made with Lordstown Motors where GM “will become a supplier of components to Pure Watercraft, a co-developer of new products, and will provide engineering, design and manufacturing expertise to help [Pure Watercraft] establish new factories.”